2704-06 N Halsted St
FOR LEASE OR SALE
PRIME RETAIL/PROFESSIONAL OFFICE SPACE
Neighborhood: Lincoln Park
Cross Streets: Halsted St & Diversey Pkwy
High-profile retail, salon or professional/medical office space on the ground floor of newer 5-story 54-unit condo building.
• 7,600 SF with 130’ of frontage, divided into 4 separate spaces
• 2 storefront spaces available for lease (total of 4,100 SF)
➢ ~1,400 SF with 24’ frontage (manicure/pedicure/facial/retail portion of former high-end day spa)
➢ ~2,700 SF with 37’ frontage (massage area of former high-end day spa)
• 2 leased storefronts (3,500 SF, $117,000 net rent)
➢ 1,500 SF leased to Dental Masters since 2004
➢ 2,000 SF on recent 10-year lease with large Dunkin’ Donuts franchisee
• 12’ ceiling height to concrete deck with dropped ceilings at 10’.
DELIVERY CONDITION: These spaces were formerly part of a high-end spa/salon with extensive plumbing and upgraded HVAC & electrical service.
Can be delivered “as is”, as a “vanilla box” or as a “turnkey” space
PARKING: The property has 6 parking spaces available in the building’s heated garage for $200/mo. per parking space.
ZONING: B3-2 (Community Shopping District), 43rd Ward (Ald. Michele Smith)
USAGE RESTRICTIONS: Bars, nightclubs, massage parlors, and retail packaged liquor stores are not allowed, but restaurants, including those serving alcoholic beverages, are allowed. There are no restrictions on hours of operation.
LOCATION: Located in the heart of the Lincoln Park/East Lakeview commercial district with over 100,000 affluent residents within 1 mile. 1 block south of Diversey Pkwy, 2 blocks west of the Clark/Broadway/Diversey intersection and 0.3 mi to the Diversey CTA station. Nearby businesses include Dom’s Kitchen & Market, Home Depot, Guitar Center, Walgreens, Trader Joe’s, Urban Outfitters, and numerous local restaurants and neighborhood businesses.
TRAFFIC COUNTS: 18,700 vehicles per day (VPD) on Halsted St, 16,800 VPD on Diversey Pkwy
Demographics: (2020) 1.0-mi. 3.0-mi.
ASKING RENTAL RATE: $4,000/month ($34/SF) for 1,400 SF space in current “ready to open” condition; ~$7,000/month ($31/SF) + amortization of any tenant improvement allowance for 2,700 SF space
ADDITIONAL EXPENSES: Real estate taxes ($4.97/SF in 2021) are included in the base rent. Tenants are responsible for their share of common area maintenance (CAM) expenses (~$0.50/SF) and their own separately metered gas and electric utilities.
SELLING PRICE: $2,950,000 for entire parcel. $489,000 for vacant 1,400 SF space, $920,000 for vacant 2,700 SF space.